ord......what is it worth......, page-45

Londoner,

No problems, I wasn't raising them major problems but there are still those risk that exists. The funding risk is related to the resource risk. We haven't had an update since 2008. A lot has happened since then. Why there hasn't been an update is anyone's guess.

Don't get me wrong, I am not saying that there are problems. Until the JORC update does come in, it is still a risky play as if there is no economical resource, there is no funding for refinery. That's why everyone is waiting for the JORC update as the first stepping stone and then teh feasibility report to prove the resource is economical.

There are some good signs that drill results since March 2010 are promising. If they weren't they would not have engaged SRK, purple, RBC etc. But as I said, usually the big instos are not entirely keen on purchasing stocks unless they can see a clear path to cash flow. IMO the stock will be significantly derisked once feasibility report comes in. This will when stock will re rate. Until then, I expect it to trade sideways, unless there are leaks in mkt.

psyber.